Home » Business » Real Estate
Vanke sees 4.2% gain in annual profit for 2014
CHINA Vanke, the country’s largest listed developer, yesterday said its annual profit was up 4.2 percent to 15.8 billion yuan (US$2.5 billion) last year amid a downturn in the country’s real estate sector.
The company sold 1.1 billion square meters of property in 2014, a 9.1 percent decline year on year. Home sales hit 6.2 trillion yuan, down 7.8 percent for the same period.
On Monday, the People’s Bank of China loosened its mortgage policies, slashing the down payment needed to buy second homes to 40 percent to boost demand in the housing market.
“We won’t change our verdict on the property sector due to the new policy. The golden times are gone, and we have to face a silver age,” said Yu Liang, Vanke’s president.
Vanke, formerly China’s largest developer by revenue, has been cautious toward new projects amid a downturn in the real estate sector across China since the beginning of 2014. It was beaten by another Shanghai-based company, Greenland Holding Group Co, in housing sales last year for the first time, according to statements unveiled by the two developers.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.